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ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

GTCR, Hormel, the Riverside Co-CEOs and Others Win M&A Mid-Market Awards
Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

Roundtable

Financial Services Companies Heat Up M&A Market
Speakers from Flexpoint Ford, Genstar Capital, Baird Capital, Madison Capital Funding and Katten Muchin Rosenman discuss the various factors playing a role in M&A activity within the financial services space

Expert's Corner

Pursuing Pharma Manufacturing
The fragmented pharmaceutical manufacturing industry provides plenty of opportunities for private equity investors, says JLL Partners founder Paul Levy

Consumer Goods & Retail
Barnes & Noble Founder Wants to Buy Retail Business

Founder Leonard Riggio’s proposal excludes Barnes & Noble’s Nook business

Barnes & Noble Inc. (NYSE: BKS) founder Leonard Riggio wants to buy the company’s retail business.

Riggio, who is Barnes & Noble’s largest stockholder and chairman of the board, does not plan to buy the business of Barnes & Noble’s e-book product, Nook. He filed a Schedule 13-D with the U.S. Securities and Exchange Commission announcing his intention to buy the business on Feb. 25. The price would be negotiated with the board of directors.

The move is viewed as an attempt to save the company, which has experienced declining profits. 

The proposal will be evaluated by a strategic committee of independent directors, advised by Evercore Partners. Paul Weiss Rifkind Wharton & Garrison is serving as the directors’ legal counsel. There is no timetable for the review.

In December, Pearson plc (NYSE: PSO) agreed to buy a five percent stake in Nook Media LLC, which makes the Nook e-book, for $89.5 million. In April, Microsoft Corp. (Nasdaq: MSFT) agreed to pay $300 million for a 17.6 percent stake in Nook. 

 

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